Paris-based asset management business firm Napoleon AM has appear the launch of a specialized professional fund nether French law, the Napoleon Bitcoin Fund. The fund would replicate the price of the cash-settled Bitcoin futures listed on the Chicago Mercantile Exchange.

According to the visitor, this is 1 of the first regulated products giving exposure to Bitcoin, with which institutional investors can diversify their portfolio.

While the firms are launching crypto products for professional investors, non every investor is confident about the future of Bitcoin. Billionaire investor Marking Cuban believes that BTC could never become a reliable currency because "it's likewise difficult to apply, too easy to hack, mode as well easy to lose, too hard to sympathize" likewise as besides hard to assess and value.

Notwithstanding, he does believe that Bitcoin could get a financial asset as a collectible like to gilded and art.

Daily cryptocurrency market performance

Daily cryptocurrency market functioning. Source: Coin360

While most firms are targeting the institutional investors, Swiss cryptocurrency financial house Amun AG has received permission to offer various exchange-traded products to retail clients throughout the EU.

With a slew of products being launched for both institutional players and retail investors, the interest in the crypto space is likely to pick up. And so, should investors view the current dip as a ownership opportunity? Permit's analyze the charts.

BTC/USD

Bitcoin (BTC) has dropped to the firsthand support at $seven,085.80. Both the moving averages are sloping down and the RSI is in negative territory, which suggests that bears are in command.

If the bears succeed in breaking below $seven,085.lxxx, the next stop is probable to be the recent lows of $6,512.01. Nosotros anticipate the bulls to launch a strong defence force of this level. Nonetheless, if this support also cracks, the sentiment will plow sour and a deeper correction to $5,533.xc is possible.

BTC USD daily chart

BTC USD daily chart. Source: Tradingview

Conversely, if the bulls defend the support at $7,085.eighty, the BTC/USD pair might remain range-spring for a few more days. A suspension higher up $7,085.fourscore can bear the cost to the downtrend line where we anticipate the bears to mount strong resistance.

However, if the bulls can button the price in a higher place the downtrend line and sustain it, we anticipate a rally to $10,360.89. Therefore, the traders can initiate long positions as suggested in our before analysis.

ETH/USD

The range in Ether (ETH) has tightened further. The bulls are attempting to defend the immediate back up at $143.259 while the bears are defending the overhead resistance at $151.829.

ETH USD daily chart

ETH USD daily chart. Source: Tradingview

Though information technology is hard to predict the direction of the breakout from a range, the down-trending moving averages and the RSI in the negative zone show that bears have the advantage. If they succeed in breaking below the $143.259 to $140 back up zone, a drop to $131.484 is possible.

Conversely, if the bulls button the price to a higher place the overhead resistance zone of $151.829 to $157.50, the ETH/USD pair could pick up momentum. The short-term traders can initiate long positions as suggested in our previous analysis.

XRP/USD

XRP has been property higher up $0.22 for the past two days. However, the bulls have not been able to reach a strong bounce off it, which is a negative sign. This shows a lack of urgency amongst the bulls to buy at these levels.

XRP USD daily chart

XRP USD daily chart. Source: Tradingview

Without aplenty ownership back up, the XRP/USD pair might dip below $0.22 and the uptrend line of the ascending triangle. A breakdown of a bullish setup is a bearish sign. Therefore, a suspension below the uptrend line tin can drag the toll to $0.20946 and beneath it to $0.20041.

Our bearish view will be invalidated if the bulls carry the price above the overhead resistance at $0.23260. Such a motility will signal buying at lower levels. We might propose long positions for the aggressive trader if the price sustains higher up $0.2326 for a few days.

BCH/USD

Bitcoin Cash (BCH) has dipped to its critical support at $203.36. The failure to rebound off this support indicates a lack of aggressive buying. The 20-day EMA is sloping down and the RSI is in the negative zone, which shows that bears have the upper hand.

BCH USD daily chart

BCH USD daily chart. Source: Tradingview

If the bears sink the price below $203.36, a driblet to $192.52 is likely. This is an important level to watch out for because if it cracks, the downtrend will resume.

Contrary to our assumption, if the BCH/USD pair bounces off the current levels or from $192.52 and rises higher up $227.01, it volition indicate strength. Hence, nosotros retain the buy recommendation given in our before assay.

LTC/USD

Litecoin (LTC) has gradually dipped closer to the support at $42.0599. Both moving averages are sloping downward and the RSI is close to the oversold zone, which shows that bears are in control.

LTC USD daily chart

LTC USD daily chart. Source: Tradingview

If the bears sink the price below the support at $42.0599, the LTC/USD pair volition resume the downtrend, with the next support at $36.

Alternatively, if the bulls defend the support at $42.0599, the pair might remain range-bound betwixt $42.0599 and $l for a few days. A breakout of $fifty could carry the price to $66.1486.

EOS/USD

EOS has declined to the immediate support at $two.5804. Failure to reach a potent bounciness off this level is likely to attract further selling that could sink the cost beneath it. The next back up on the downside is $ii.4001. We expect a strong defense of this level by the bulls.

EOS USD daily chart

EOS USD daily nautical chart. Source: Tradingview

Nevertheless, if the EOS/USD pair bounces off the current levels or from $ii.4001 and breaks in a higher place the overhead resistance at $2.8695, it will bespeak forcefulness. In a higher place $two.8695, the pair tin can move up to the downtrend line. The short-term traders could try to benefit from this ascension by initiating long positions as suggested in our previous assay.

BNB/USD

After failing to rising in a higher place the overhead resistance at $16.50, Binance Coin (BNB) has dropped shut to the critical support at $xiv.2555 in the past two days. While this is a negative sign, we are closely watching the developing bullish deviation on the RSI, which could point a possible reversal.

BNB USD daily chart

BNB USD daily chart. Source: Tradingview

A bounce off the current levels volition keep the BNB/USD pair range-bound for a few more than days. The beginning sign of strength volition be a suspension higher up $sixteen.l. Though the 50-mean solar day SMA might offer some resistance, nosotros await the toll to climb above it and reach $21.80.

Therefore, the traders can initiate long positions on a intermission and close (UTC time) in a higher place $sixteen.50 with the stop at $13.50. Our bullish view volition be invalidated if the bears sink the price below $xiv.2555.

BSV/USD

Bitcoin SV (BSV) continues to trade nigh the support at $92.693. A consolidation near an important support level, without any meaningful bounce, usually increases the possibility of a breakdown.

BSV USD daily chart

BSV USD daily nautical chart. Source: Tradingview

If the bears sink the price below $92.693, the turn down can extend to the next back up at $78.506. This is of import support because if information technology cracks, the BSV/USD pair could drop to $38.528.

Opposite to our assumption, if the pair rebounds off the current levels and rises above the downtrend line, it could move up to $113.960. We will await for the price to sustain higher up the 50-day SMA before turning positive.

XLM/USD

After failing to rise above the overhead resistance at $0.056, Stellar (XLM) has dipped towards the support at $0.051014 in the past two days. This is a negative sign as it indicates that the buyers are non confident that a bottom is in place withal.

XLM USD daily chart

XLM USD daily nautical chart. Source: Tradingview

If the bears succeed in breaking below the support at $0.051014, the XLM/USD pair will resume its downtrend. The side by side support to watch on the downside is $0.041748.

Conversely, if the price turns around from the current levels and rises higher up $0.056, a move to $0.060 is possible. To a higher place $0.060, the traders tin initiate long positions as proposed in our previous analysis.

XTZ/USD

In an uptrend, the bulls provide back up at the 20-day EMA. That is what happened with Tezos (XTZ) as the drop on December. 10 establish ownership support merely below the 20-day EMA. However, today'due south price action shows profit-taking at higher levels.

XTZ USD daily chart

XTZ USD daily chart. Source: Tradingview

The bulls volition at present try to push the XTZ/USD pair higher up $1.528758 while the bears will attempt a break beneath the xx-day EMA.

If the bulls are successful, a rally to $1.6555 and to a higher place it to $1.85 is likely. We conceptualize the bears to offer a pocket-size resistance at $1.6555 and a stiff resistance at $1.85. If the bears succeed in breaking beneath the 20-day EMA, a drop to the 50-twenty-four hours SMA is possible.

Nosotros do not see a buy setup with an attractive hazard to advantage ratio here. Hence, we are not recommending a trade at the current levels.

The views and opinions expressed here are solely those of the author and practise not necessarily reflect the views of Cointelegraph. Every investment and trading motion involves run a risk. Yous should conduct your ain research when making a determination.

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